Securities Times reporter He Jueyuan
On April 29, the China Banking and Insurance Regulatory Commission publicly solicited opinions on the "Administrative Measures for Internal Control of Wealth Management Companies (Draft for Comment)".
Among them, the "Measures" require that wealth management companies should set up a chief compliance officer in the senior management.
The "Measures" require the establishment of a chief compliance officer, who is responsible for supervising and inspecting the construction and implementation of internal control, and who can report directly to the board of directors and regulatory authorities, so as to better play its role of supervision and checks and balances; establish a personnel information registration and publicity system, and implement securities investment. A full-staff registration system, clarifying the list of investors and traders, and timely publicizing the positions of investors; strengthening transaction monitoring, early warning and feedback, implementing a system of fair transactions and abnormal transactions, and proactively identifying and preventing risks; implementing a centralized transaction and transaction record system , to ensure the separation of investment and transactions, and that transaction information can be traced back and checked; strengthen information isolation, establish information isolation and investor information use management systems, and strictly prohibit illegal inquiries and information leakage.
The "Measures" require that wealth management companies formulate a comprehensive, systematic and standardized internal control system for various business activities and management activities, and conduct a comprehensive assessment at least once a year.
Before the issuance of wealth management products, internal approval procedures were strictly implemented, the changes in risk monitoring indicators of each product were continuously tracked, stress tests were conducted, and effective measures were taken in a timely manner.
Improve the whole-process management system of transactions, and effectively identify and control related risks.
The "Measures" also require that the internal control functional departments of wealth management companies organize internal control evaluations at least annually, and the evaluation results are included in the performance evaluation index system.
The "Measures" also require that wealth management companies should establish a conflict of interest prevention and control system, not to transfer benefits to any institution or individual, and not to engage in activities that damage the interests of investors.
Wealth management companies shall not use wealth management funds to conduct improper transactions, transfer of benefits, insider trading and market manipulation with related parties, including but not limited to investing in false projects of related parties, jointly acquiring listed companies with related parties, and injecting capital into the institution.